NEW YORK, NY / ACCESSWIRE / November 8, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Celanese Corporation ("Celanese Corporation") (NYSE:CE) concerning possible violations of federal securities laws.
On November 4, 2024, Celanese issued a press release reporting its financial results for the third quarter of 2024. Celanese's reported earnings adjusted for one-time items in the third quarter were $2.44 per share, compared with a consensus estimate of $2.84 per share. Celanese also reported revenue of $2.65 billion, representing a 2.6% year-over-year decline and falling short of consensus estimates of $2.69 billion. In the press release, Celanese's Chief Executive Officer stated that "[i]n the third quarter, we faced a severely constrained demand environment that, in some cases like auto, degraded swiftly" and cautioned investors that "[w]e expect demand conditions to worsen in the fourth quarter, as automotive and industrial segments react to recent dynamics by seasonally destocking at heavier than normal levels."
Following this news, Celanese's stock price fell over 26% on November 5, 2024. To obtain additional information, go to:
https://zlk.com/pslra-1/celanese-corporation-lawsuit-submission-form?prid=111218&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
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New York, NY 10004
[email protected]
Tel: (212)363-7500
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SOURCE: Levi & Korsinsky, LLP